IREN (NASDAQ:IREN) Stock Price Down 6.2% – Here’s Why

IREN Limited (NASDAQ:IREN) fell 6.2% during mid-day trading on Tuesday . The company traded as low as $53.33 and last traded at $54.26. 44,898,614 shares were traded during mid-day trading, an increase of 11% from the average session volume of 40,487,785 shares. The stock had previously closed at $57.82.

Key Stories Impacting IREN

Here are the key news stories impacting IREN this week:

• Positive Sentiment: Analyst coverage and corporate news note a material catalyst — a reported Microsoft AI cloud deal and subsequent analyst upgrades have improved near?term sentiment and support higher valuation assumptions for IREN. Assessing IREN Valuation After Microsoft AI Cloud Deal And Analyst Upgrades
• Positive Sentiment: Bullish investor write?up argues IREN’s AI pivot and rapid data?center exposure make it a high?upside play; a DCF valuation cited in the piece implies substantial upside versus current levels, which can attract value/AI?growth buyers. Why I Am Buying IREN, The Nvidia Of Data Centers, During This Market Correction
• Positive Sentiment: Industry roundups that list IREN among top AI winners for 2026 can lift sentiment and broaden investor interest, especially from AI?focused funds and retail investors hunting breakout names. 3 AI Stocks That May Be The Biggest Winners In 2026
• Negative Sentiment: A critical Seeking Alpha piece argues the AI-driven run may be topping out for IREN, warning of valuation risk, execution hurdles on capacity scaling and downside if AI demand softens—this type of analysis can prompt profit?taking and heavier scrutiny from long investors. IREN: The AI Party Is Coming To An End
• Negative Sentiment: A viral Finbold article highlights a politician’s prior sale of IREN before a big surge, a narrative that can feed headlines about insider timing or governance concerns and elevate short?term selling pressure from sentiment?driven traders. U.S. politician suspiciously dumped this stock just before 40% surge

Analyst Upgrades and Downgrades

Several research firms have weighed in on IREN. BTIG Research upped their price objective on shares of IREN from $32.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Arete Research started coverage on shares of IREN in a report on Wednesday, September 24th. They set a “buy” rating and a $78.00 price target on the stock. Citizens Jmp started coverage on IREN in a report on Wednesday, November 19th. They set a “market outperform” rating and a $80.00 price objective for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $75.00 price objective on shares of IREN in a research report on Thursday, September 25th. Finally, Citigroup assumed coverage on IREN in a research note on Wednesday, November 19th. They issued an “outperform” rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IREN has an average rating of “Moderate Buy” and an average price target of $69.36.

IREN Stock Performance

The company has a market cap of $15.38 billion, a P/E ratio of 27.97 and a beta of 4.25. The firm has a 50 day moving average price of $45.23 and a 200-day moving average price of $39.26. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.52 and a current ratio of 5.52.

IREN (NASDAQ:IREN) last announced its earnings results on Thursday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.48). IREN had a negative return on equity of 3.60% and a net margin of 86.96%.The company had revenue of $240.30 million for the quarter, compared to the consensus estimate of $244.60 million. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. On average, research analysts predict that IREN Limited will post 0.43 EPS for the current year.

Hedge Funds Weigh In On IREN

A number of institutional investors have recently made changes to their positions in the business. Situational Awareness LP raised its stake in IREN by 90.1% during the second quarter. Situational Awareness LP now owns 6,400,384 shares of the company’s stock worth $93,254,000 after acquiring an additional 3,034,254 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of IREN during the 2nd quarter worth about $74,228,000. Value Aligned Research Advisors LLC lifted its holdings in IREN by 18.6% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 3,873,337 shares of the company’s stock valued at $181,776,000 after purchasing an additional 607,189 shares during the last quarter. Invesco Ltd. boosted its position in IREN by 45.9% in the second quarter. Invesco Ltd. now owns 2,974,674 shares of the company’s stock valued at $43,341,000 after buying an additional 936,333 shares in the last quarter. Finally, UBS Group AG grew its stake in IREN by 37.3% during the third quarter. UBS Group AG now owns 2,767,452 shares of the company’s stock worth $129,877,000 after buying an additional 751,635 shares during the last quarter. 41.08% of the stock is currently owned by institutional investors.

About IREN

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.